While there are undeniable challenges—higher interest rates, tighter lending conditions, and market uncertainty—there are also unique opportunities that can make real estate a very prudent choice if approached thoughtfully.

The December 2024 report from the Austin Board of REALTORS® (ABoR) shows stable housing prices and balanced market conditions in the Austin metro as we reached year’s end.

Almost nobody in the Upper Peninsula has air conditioning though so maybe can save money on just doing a new furnace and not a full HVAC, we'll see.  

Quote from @Khon Kounbandith: The house was in good condition. 

While algorithms can analyze data at scale, real estate isn’t just about numbers—it’s about nuances and the most important component of real estate is understanding its value, and that to me (maybe I am old school) but can only be done by physically visiting and walking the property.So for me, factors like local market conditions, property inspections, and borrower credibility can’t be fully captured in a formula.

Although I conducted a basic septic inspection during the closing, and the system is in good working condition, it still failed the STR inspection.

., financial info, property condition)?

But yeah, I see how the asking price and condition are making things tricky.For loans, you’re already on the right track with the 203k and Fannie Mae HomeStyle loans.

My go-to response is always: Do you have a Move-In Inspection to document the home's condition beforehand?

•This balloon payment will be paid through a cash-out refinance of an investment property valued at $198,000.7.Remaining Balance: After the balloon payment, the remaining loan balance will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Payment TermsInitial Loan Terms (First 24 Months):The monthly payment for the first 24 months is based on a 12-year amortization schedule:Monthly Payment for First 24 Months: $1,573.39Remaining Balance at Month 24 (Prior to Balloon Payment):The balance after 24 months can be calculated using the amortization formula:Remaining Balance at Month 24: $157,113.92Balloon Payment:The balloon payment will be 50% of the remaining balance at Month 24:Balloon Payment Due at Month 24: $78,556.96Re-Amortization of Remaining Balance (After Balloon Payment):The remaining balance after the balloon payment will be:This amount will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Monthly Payment for Final 60 Months: $1,541.18Summary of Key Terms:•Purchase Price: $215,000•Down Payment: $43,000•Loan Amount: $172,000•Interest Rate: 6.5% (fixed)Initial Terms (First 24 Months):•Monthly Payment: $1,573.39•Balloon Payment Due at Month 24: $78,556.96Re-Amortized Terms (Final 60 Months):•Remaining Balance: $78,556.96•Monthly Payment: $1,541.18Additional Conditions:1.Prepayment Penalty: None.